Fixed Rate Mortgage Home Loan in Denver

Fixed Rate Mortgage Home Loan in Denver

The interest rates on Denver's fixed loans remain the same over the entire term of the loan. The predictability of these kinds of loans make them attractive to homebuyers. Fixed home loan rates are available in 15 Year, 20 Year, 25 Year and 30 Year mortgages. Learn more about the advantages and drawbacks of fixed home loan rates below.

What are the pros and cons of fixed loans?

Not only do fixed rate mortgages offer predictable interest rates, they're perfect for Denver homeowners who are planning to be in their homes long term. If you plan on spending 15 or more years in your home, it is greatly beneficial to protect yourself from any instability the housing market may experience over the course of your mortgage. Fixed rate mortgages are simple, and easy to for borrower to understand. They are paid back in the same amount on a monthly basis the entire loan term. It is impossible to predict the strength of the housing market years from now, and a fixed rate mortgage can keep you financially safe if interest rates turn volatile later in your mortgage.

On the other hand, Fixed rate mortgage loans are less attractive if interest rates are high. You'll be locked in at one rate for the life of your loan (unless you choose to refinance). With traditionally higher interest rates than an ARM, fixed rate loans are harder to qualify for and can limit the maximum size of your loan.

Do you have questions about fixed loan rates?

If you have questions about fixed home loan rates in Denver, Colorado, please don't hesitate to contact a Mortgage Loan Officer or Personal Loan Consultant at US Mortgages. Give us a call directly or let us know how to get in touch with you. We'll reach out as soon as we can. If you're ready to get the process started immediately, consider beginning either our short form application or our long form application for prequalification for a loan. If you have any questions while filling out the applications online, be sure to give us a call at our Denver office or drop us a message to clarify anything along the way.

Pre-Qualify In Minutes, With No Impact To Your Credit Score

With just some basic information, you are on your way to your new Home. In most cases, our agents will call you in a few minutes to get things started. In some rare events it could be up to 24 hours. We always try to call between 8am and 5pm MST, so we don’t disturb you after hours. If you would prefer we did call outside those ours, please just add in a note and we will be happy to oblige.

Why should I get pre approved for my home loan or refinancing?

Home loan pre approval in Denver simplifies the loan process. Preapproval allows a lender to see a full 360 degree view of the borrower's financial situation, enabling us to advise borrowers on all home loan considerations. This helps us identify which loan we offer is the best fit for the borrower. Prequalification allows borrowers to pursue the loan that's best for them and their financial situation.

How can I get ready for home loan prequalification in Denver?

Excellent question! A great place to start is by understanding what lenders look at. For the most part, lenders look at 4 things. The first is your FICO credit score which includes your payment history, credit utilization and the length of your credit history. The second is your income with respect to your monthly housing costs. The third is the number of current loans you have and their status. The fourth and final thing lenders consider is the percentage of the cost of the home you're looking to purchase that you can put as a down payment. Get ready for prequalification by understanding your status in these areas and identifying what you can do to improve them before buying a home.

About US Mortgages

US Mortgages has been securing mortgage pre approval in Denver for over 20 years. Let us know how to reach out to you, or give us a call today.

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Pre-qualification means one of our mortgage specialists will contact you. This does not represent an offer to enter into a loan agreement. Loans subject to credit and property approval. Normal credit qualifications and other terms and conditions apply. Not all loan products or terms are available in all states.